IRDAI proposes Ind AS adoption for all insurers wef April 1, 2026
In March 2026, the Insurance Regulatory and Development Authority of India (IRDAI) released an exposure draft of the IRDAI (Actuarial, Finance and Investment Functions of Insurers) (Amendment) Regulations, 2026, along with a detailed consultation paper proposing to implement Indian Accounting Standards (Ind AS).
Key Highlights
Effective from: The proposed implementation will be effective from April 1, 2026.
Applies to: The proposed implementation shall apply to all categories of insurers, including Life Insurers, General Insurers, Health Insurers, and Reinsurers.
Purpose: The transition to Ind AS would enhance global comparability, introduce market-consistent measurement of liabilities, improve performance disclosures, and strengthen governance and risk management practices.
Existing Framework: Currently, the insurers prepare financial statements under Insurance Act, 1938 and IRDAI regulations.

• The existing framework lacks global comparability, market-consistent valuation, and transparency in financial reporting.